Price Match Policy
A Price Match Policy is a document that outlines how and when retailers are able to change the prices of their items to match that of a competitor’s, upon a customer’s request.
4.8 (5 reviews)
Last updated December 18, 2024
Under 10 minutes
Suitable for Australia
Written by
Edwin Montoya Zorrilla
Reviewed by
Damin Murdock
Document Overview
Price Match Policies are intended to ensure customers can purchase products from the existing business but at the same low prices offered by a competitor. By doing so, it maintains the relationship between business and customer and allows continuous and consistent consumer participation. Price Match Policies are not however, intended to or designed to force businesses into selling products below cost price or to operate at a loss.
This Price Match Policy also provides businesses with options on when items can be price matched and how the customer must raise their request to do so.
The Legal Risk Score of a Price Match Policy Template
Our legal team have marked this document as low risk considering:
- There is a risk that the price match may not be honored if the competitor’s lower price is due to a pricing error, mistake, or misprint, potentially leading to customer dissatisfaction if expectations are not managed.
- The exclusion of items on sale, clearance, or part of a bundle offer from the price match could limit the opportunities for customers to benefit from the policy, possibly affecting customer perception of value and fairness.
- The policy can be terminated or amended at any time without notice, which introduces uncertainty for both customers planning to rely on it and staff who must stay informed of the current policy to ensure consistent application.
Price Match Policy Checklist
Complete your free Price Match Policy with our checklist
Verify Competitor Information
Ensure that the competitor is a registered Australian business with an Australian Business Number and is registered for Goods and Services Tax (“GST”).
Check Product Eligibility
Confirm that the product in question matches the specified model, description, and availability conditions outlined in the policy.
Prepare Proof of Competitor’s Price
Gather acceptable proof such as a photograph, screenshot, or official document that verifies the competitor’s lower price and product specifications.
Update Policy Knowledge Regularly
Stay informed about any changes to the Price Match Policy since it can be amended or terminated at any time without notice.
Use this Price Match Policy if:
- You own or operate a business that sells products direct to consumers
- You want to offer the same, competitive prices as other retailers and businesses offering similar products
- You want an honest, transparent way for customers to seek the best prices
What does this Price Match Policy cover?
- Objectives/Background
- Nature of Competitor
- Product Specifications & Availability
- Product Exclusions
- Proof of Competitor’s Price
- Nature of Proof
- Product Verification
- Honouring the Policy
- Location
- Timing
- Number of Items
- Further Considerations
Further information:
View Sample Price Match Policy
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